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EURUSD: Weekly Forecast 22nd August 2021EURUSD had another bearish week right after a short recovery from the week before, essentially breaking new low again. While reviewing our past weekly forecast, it actually followed an ABCD pattern based on the weekly timeframe and shall be completed this week should the price drops further into the demand level at 1.16. The dollar has been strengthening weeks before the Fed has turned hawkish where it now stands ready to taper this year, thus potentially bring about a reverse effect when it does taper. This week, we shall follow the current trend and look for selling opportunity starting from 1.1710 supply level, and aiming for the demand level at 1.16. Otherwise, we will be observing for a clear reversal signal as an ABCD in the weekly timeframe completes at 1.16.
Short
by AlgoVenture
1
Bitcoin: Weekly Forecast 22nd August 2021Bitcoin has remained bullish for the 5th consecutive week and it has now regained more than 50% of its previous losses. There's been a growing sentiment that the crypto-market has resumed a bullish trend as demand for crypto payment is growing in different sectors. but right now, bitcoin is about to face a very key supply level around 50,000 mark and may bring about another phase of selloff. If history is off any guidance, the major correction is still far from over and could still potentially find itself sink deeper beyond 30,000 again. this week, we will wait for clear signs of reversal at the supply level around 50,000 before we start looking for selling opportunities. Otherwise, following the frenzy right and buy the pullback from every bullish wave could prove rewarding as well especially for day trading.
BITSTAMP:BTCUSDLong
by AlgoVenture
2
Trading concept- Absorption of SupplyMyth: If the price approaches a level repeatedly, and gets rejected from it, this means that the level is very strong. Reality: After each touch, the level becomes weaker and weaker due to the absorption of the residual orders. Underlying concept: 1. Whenever the price keeps approaching a certain level, there are pending sell orders that are waiting to be filled. 2. Every time the price comes back to this level, a certain amount of orders gets filled. This is called absorption. 3. The more the price approaches that level, the lesser the unfilled order remains. 4. Ultimately all the orders get absorbed and we see a breakout from that level. Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk. Happy learning. Cheers! @johntradingwick
NSE:NIFTYEducation
by johntradingwick
2
Nasdaq sell Nasdaq has created an all time high, but with the US not taking Coronavirus lightly and with the BLM protests and Trade war in place all fundamental news - with this, technology stocks have seen incredible growth but has the growth paused or now come to an end and needs retracing? What can we see technically? - Daily bearish but breaking momentum short has now broken 10,000 level. - Monthly supply has now formed with all time record high. - bounce from the demand zone to create a new high. - We have a strong weekly rejection candle - we had some good indecision candles on the daily Where to enter? Follow your plan we entered at 10053 as we could see these zones lining up with our analysis we have further sell limits at 10,350 All trades risk free Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted. Trade what you see, this is purely our Bias. Why follow us? Updates on our pairs as and when we can. Swing trade out looks 10 years combined experience in capital markets simple breakdowns for beginners to advanced . KISS - keep it simple stupid. we trade purely from naked charts, less indicators - remove the noise. If you like our work, please leave a like or comment. Many thanks for your support to our existing and new followers. Take care out there. Thanks, Team Lupa.
OANDA:NAS100USDShort
by LupaCapital
BTCUSD SHORT BIAS The drop from 7700 level(yellow) represented a lack of buyers at that level that necessitated such a decline in price. Price is back at that level after a significant rally in price to a price level where the chart tells us there was a major selling activity. I for one would not be buying bitcoin at these prices. Wait for price to break 8210 which will signal a break out higher or take a low risk short with a stoploss above 8210 which might pay out if the bias pans out.
GEMINI:BTCUSDShort
by madmannerism
AUDCAD 15m SELLI'm setting and forgetting an entry on a supply zone very high on the curve that is already in a down trend. The leg out wasn't explosive but it did leave a 2:1 from entry. The relative strength has the CAD at the strongest on both the DAILY and HOURLY charts, while the AUD is either the weakest or second to weakest on both time frames. There is a demand zone there, waiting, and if it shows confirmation of a reversal then I will close there. But if it doesn't hold, expect at least a 5:1 RR.
Short
by QSInvestments